Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - ROWAN COMPANIES PLC | v174518_8-k.htm |
| EX-99.2 - LAND RIG FLEET AND CONTRACT STATUS - ROWAN COMPANIES PLC | v174518_ex99-2.htm |
 |
ROWAN
COMPANIES, INC.
OFFSHORE
RIG FLEET AND CONTRACT STATUS
As
of February 16, 2010
|
EXHIBIT
99.1
|
|
OFFSHORE
RIGS
|
Contract
Status
|
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|
LeTourneau
|
Depth
(feet)
|
Year
in
|
Day
Rate
|
Estimated
|
||||||||||||||||
|
Name
|
Class
|
Water
|
Drilling
|
Service
|
Location
|
Customer
|
(in
thousands)
|
Duration
|
Comments
($ in thousands)
|
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|
Cantilever
Jack-up Rigs:
|
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|
Rowan
EXL #4
|
S116-E
|
350
|
35,000
|
2012
|
TBD
|
TBD
|
TBD
|
TBD
|
Rig
currently under construction with delivery expected in Q1
2012.
|
|||||||||||
|
Rowan
EXL #3
|
S116-E
|
350
|
35,000
|
2010
|
TBD
|
TBD
|
TBD
|
TBD
|
Rig
currently under construction with delivery expected in Q4
2010.
|
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|
Joe
Douglas
|
240-C
|
400
|
35,000
|
2011
|
TBD
|
TBD
|
TBD
|
TBD
|
Rig
currently under construction with delivery expected in Q3
2011.
|
|||||||||||
|
Rowan
EXL #2
|
S116-E
|
350
|
35,000
|
2010
|
TBD
|
TBD
|
TBD
|
TBD
|
Rig
currently under construction with delivery expected in Q3
2010.
|
|||||||||||
|
Rowan
EXL #1
|
S116-E
|
350
|
35,000
|
2010
|
TBD
|
TBD
|
TBD
|
TBD
|
Rig
is currently under construction with delivery expected in Q2
2010.
|
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|
Gulf
of Mexico
|
McMoRan
|
Low
160s
|
June
2011
|
Letter
Agreement for one well estimated to commence in August 2010 with a right
to substitute
EXL #2 commencing in September 2010.
|
||||||||||||||||
|
Ralph
Coffman
|
240-C
|
400
|
35,000
|
2009
|
Gulf
of Mexico
|
McMoRan
|
Low
110s
|
March
2010
|
Rig
commenced drilling for one well at low $110s day rate in mid January
2010.
|
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|
Low
180s
|
October
2010
|
Amended
the contract to reduce the minimum term from two years to one well
(estimated to require six months),
with a prorated termination fee (plus interest) if two rig years (at low
$180s day rate) are not fulfilled
(see Rowan-Mississippi).
|
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|
J.P.
Bussell
|
225-C
|
300
|
35,000
|
2008
|
Egypt
|
Shell
|
Low
180s
|
May
2011
|
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|
Rowan-Mississippi
|
240-C
|
375
|
35,000
|
2008
|
Gulf
of Mexico
|
McMoRan
|
Low
180s
|
November
2010
|
In
connection with the Ralph Coffman contract,
the Company in June 2009 reduced the Mississippi day rate
for the remainder of its original two-year term. If McMoRan
does not fulfill the original two-year commitment
for the Coffman through work for the Coffman or Mississippi beyond the
original term (at
low $180s day rate), the Company will earn a pro rata portion of the $18
million termination fee (plus
interest), payable in installments over the remainder of the original
Mississippi contract term.
|
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|
Hank
Boswell
|
225-C
|
300
|
35,000
|
2006
|
Middle
East
|
Saudi
Aramco
|
Low
190s
|
March
2011
|
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|
Bob
Keller
|
225-C
|
300
|
35,000
|
2005
|
Middle
East
|
Saudi
Aramco
|
Low
180s
|
May
2011
|
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|
Scooter
Yeargain
|
225-C
|
300
|
35,000
|
2004
|
Middle
East
|
Saudi
Aramco
|
Low
190s
|
March
2011
|
||||||||||||
|
Bob
Palmer
|
224-C
|
550
|
35,000
|
2003
|
Gulf
of Mexico
|
El
Paso
|
Low
100s
|
July
2010
|
||||||||||||
|
Apache
|
Low
110s
|
October
2010
|
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|
Rowan
Gorilla VII
|
219-C
|
400
|
35,000
|
2002
|
West
Africa
|
Cabinda
|
Low
330s
|
May
2010
|
||||||||||||
|
Apache
|
Low
180s
|
January
2012
|
Rig
is expected to mobilize to the North Sea during late Q2 2010 and commence
operations during
Q3 2010.
|
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|
Rowan
Gorilla VI
|
219-C
|
400
|
35,000
|
2000
|
North
Sea
|
BG
|
High
390s
|
July
2010
|
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|
Low 300s
(NOR)
Low
200s (UK)
|
July
2011
|
BG
extended the contract for another 12 months and has the option of
operating the rig in Norway at a day rate
in the low $300s or in the UK at a day rate in the low
$200s. Day rates exclude amortization of contract
mobilization/modification revenues.
|
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|
Rowan
Gorilla V
|
219-C
|
400
|
35,000
|
1998
|
North
Sea
|
Total
|
Low
180s
|
May
2010
|
||||||||||||
|
Total
|
Low
150s
|
May
2011
|
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|
Rowan
Gorilla IV
|
200-C
|
450
|
35,000
|
1986
|
Mexico
|
PEMEX
|
High
120s
|
July
2011
|
The
day rate reprices every three months based on an index of jack-up
rates. The day rate reflects rig's repricing
in late January
2010.
|
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|
Rowan
Gorilla III
|
200-C
|
450
|
30,000
|
1984
|
Eastern
Canada
|
EnCana
|
Mid
280s
|
September
2010
|
||||||||||||
|
Rowan
Gorilla II
|
200-C
|
450
|
30,000
|
1984
|
Gulf
of Mexico
|
undisclosed
|
Low
190s
|
August
2010
|
In
connection with the listed Rowan-Louisiana and Rowan-Alaska
contracts, the Company agreed to reduce
the term of the Gorilla
II contract day-for-day (see Rowan-Alaska and
Rowan-Louisiana).
|
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|
Rowan-California
|
116-C
|
300
|
30,000
|
1983
|
Middle
East
|
Available
|
Rig
was in the shipyard during the month of January
2010.
|
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|
Wintershall
|
Mid
70s
|
March
2011
|
Letter
of Intent for two wells estimated to commence in May
2010.
|
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|
Cecil
Provine
|
116-C
|
300
|
30,000
|
1982
|
Gulf
of Mexico
|
Apache
|
Mid
50s
|
April
2010
|
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|
Gilbert
Rowe
|
116-C
|
350
|
30,000
|
1981
|
Middle
East
|
Maersk
|
Low
100s
|
March
2010
|
||||||||||||
|
Arch
Rowan
|
116-C
|
350
|
30,000
|
1981
|
Middle
East
|
Available
|
Rig
was in the shipyard during the month of January 2010 for
maintenance/modifications and is expected to
remain in the shipyard until March
2010.
|
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|
Charles
Rowan
|
116-C
|
350
|
30,000
|
1981
|
Middle
East
|
Available
|
Rig
was in the shipyard during the month of January 2010 for
maintenance/modifications and is expected to remain
in the shipyard until March 2010.
|
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|
Rowan-Paris
|
116-C
|
350
|
30,000
|
1980
|
Middle
East
|
Maersk
|
Low
170s
|
March
2010
|
||||||||||||
|
Rowan-Middletown
|
116-C
|
350
|
30,000
|
1980
|
Middle
East
|
Available
|
Rig
was in the shipyard during the month of January 2010 for
maintenance/modifications and is expected to remain
in the shipyard until March 2010.
|
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|
Conventional
Jack-up Rigs:
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|
Rowan-Juneau
|
116
|
250
|
30,000
|
1977
|
Gulf
of Mexico
|
Available
|
Rig
was idle during the month of January
2010.
|
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|
Rowan-Alaska
|
84
|
350
|
30,000
|
1975
|
Gulf
of Mexico
|
undisclosed
|
Low
190s
|
April
2010
|
Rig
was idle for 30 days
during the month of January
2010.
|
|||||||||||
|
Rowan-Louisiana
|
84
|
350
|
30,000
|
1975
|
Gulf
of Mexico
|
undisclosed
|
Low
190s
|
March
2010
|
Rig
was idle for 11
days during the month of January
2010.
|
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|
Rig
Class denotes LeTourneau, Inc. hull number. 200-C is a Gorilla class unit
designed for extreme hostile environment capability. 219-C is a Super
Gorilla class unit, an enhanced version of the Gorilla class, and 224-C is
a Super Gorilla XL design.
|
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|
225-C
is a Tarzan Class unit. 240-C is LeTourneau's latest jack-up
design. Rowan EXL is an enhanced version of the Super 116E
class. Unless otherwise indicated, all day rates include
estimated amortization of contract mobilization/modification
revenues.
|
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|
Estimated
contract durations reflect either stated drilling periods or expected time
required for the contracted well or wells.
|
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|
ROWAN
HEREBY ADVISES THAT THE TABLE SET FORTH ABOVE MAY CONTAIN INACCURATE,
INCOMPLETE AND/OR INCORRECT INFORMATION AND IS SUBJECT TO CHANGE AT ANY
TIME.
|
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|
THE
INFORMATION SHOULD NOT BE RELIED UPON FOR ANY PURPOSE, AND ROWAN HEREBY
DISCLAIMS ANY LIABILITY RELATING TO THE USE OF THE INFORMATION SET FORTH
ABOVE.
|
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|
This
report contains forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including, without
limitation, statements as to the expectations, beliefs and future expected
financial performance of the Company that
are based on current expectations and are subject to certain risks, trends
and uncertainties that could cause actual results to differ materially
from those projected by the Company. Relevant factors have been disclosed
in the Company's filings with the
U. S. Securities and Exchange Commission.
|
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|
Revisions
to Fleet Status Report Noted in Bold
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